Low-grade companies still face hurdles in tapping the local debt market as investors shun risk in favor of high-rated corporate debts and the safest government debt, analysts said Friday. Ordinary companies, excluding financial firms, raised a total of 3.84 trillion won (US$3.61 billion) in January by selling debts, the largest amount since October last year when the comparable figure was 5.07 trillion won, according to earlier data compiled by the Financial Supervisory Service.